Bank of America Corp DE Purchases 1,857,907 Shares of BorgWarner Inc. (NYSE:BWA)

Bank of America Corp DE increased its holdings in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 91.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,878,932 shares of the auto parts company's stock after acquiring an additional 1,857,907 shares during the quarter. Bank of America Corp DE owned about 1.77% of BorgWarner worth $123,311,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BWA. Avior Wealth Management LLC raised its position in shares of BorgWarner by 31.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company's stock worth $46,000 after acquiring an additional 342 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of BorgWarner by 0.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 54,432 shares of the auto parts company's stock worth $1,730,000 after acquiring an additional 381 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of BorgWarner by 0.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,168 shares of the auto parts company's stock worth $2,421,000 after acquiring an additional 393 shares during the last quarter. Norinchukin Bank The raised its position in shares of BorgWarner by 4.4% during the fourth quarter. Norinchukin Bank The now owns 9,501 shares of the auto parts company's stock worth $302,000 after acquiring an additional 402 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of BorgWarner by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 48,349 shares of the auto parts company's stock worth $1,537,000 after acquiring an additional 450 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley decreased their target price on BorgWarner from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Guggenheim decreased their target price on BorgWarner from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird raised their target price on BorgWarner from $29.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Cowen cut BorgWarner from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Evercore ISI decreased their target price on BorgWarner from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, BorgWarner has an average rating of "Moderate Buy" and an average price target of $37.47.

BorgWarner Price Performance

NYSE BWA traded down $0.17 during trading on Wednesday, reaching $32.96. The company's stock had a trading volume of 2,570,812 shares, compared to its average volume of 2,764,144. The stock has a market capitalization of $7.24 billion, a PE ratio of 23.05, a P/E/G ratio of 0.77 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45. The firm has a fifty day moving average of $28.28 and a 200 day moving average of $30.91. BorgWarner Inc. has a one year low of $24.40 and a one year high of $37.97.

BorgWarner (NYSE:BWA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The auto parts company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.98 by $0.13. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. The company's revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. Analysts expect that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.33%. BorgWarner's dividend payout ratio (DPR) is presently 35.20%.

Insider Activity

In related news, CAO Tonit M. Calaway sold 8,300 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.07, for a total transaction of $249,581.00. Following the completion of the sale, the chief accounting officer now directly owns 242,257 shares in the company, valued at $7,284,667.99. This represents a 3.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Tania Wingfield sold 24,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total value of $690,960.00. Following the sale, the executive vice president now owns 39,110 shares of the company's stock, valued at $1,125,976.90. This represents a 38.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,036 shares of company stock worth $1,851,114. 0.45% of the stock is currently owned by insiders.

BorgWarner Company Profile

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.